Quote:
Originally Posted by FFMaro
Then tell me why your not preaching this to everybody on this forum?
Why does anyone buy a new car?
I think it is worth it to have a car that has not been molested by someone else.
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Go read here
http://www.camaro5.com/forums/showthread.php?t=11042 and here
http://www.camaro5.com/forums/showthread.php?t=11042.
I have said the same thing to two OPs plus anyone else that was reading. You know part of the reason why we are in this economic situation we are in right now? Because people are too stupid to understand what having credit and keeping good credit means. They don't understand being over-leveraged or having too high of a debt-to-equity ratio. Do you plan on moving out of the parent's house some day and buying a house of your own? If so, you want to research this stuff a little bit.
Listen, at the end of the day, you can buy whatever you want and do whatever you want. I am just giving you some food for thought based on my experiences. I bought a new car when I was younger and didn't realize until years later what a bad decision that was. I could have kept my older (used) vehicle and started saving money sooner (which means retire sooner). I am buying this car for a couple of reasons: 1. I am selling another car to help pay for the Camaro. 2. I have saved for this car for years and will not be extending my credit in order to buy it. 3. I am financially established enough that I feel comfortable doing it. However, even in my case, it is a bad use of money. Putting that $20-35k into a true investment would be a far better use of the money right now. However, this is my reward to myself for working hard and saving what I have so far. Again, you don't have to listen, but do yourself a favor and do some hard thinking about it.